Korea's economic growth slows to 2.6 percent in 2022

Containers stacked up at a port in Busan on Dec. 21 [YONHAP]

Korea’s economic growth slowed in 2022, according to the Bank of Korea Thursday.
 
The country's gross domestic product (GDP) grew 2.6 percent in 2022, according to the Bank of Korea, compared to a 4.1 percent increase a year earlier.
 
The economy shrank 0.4 percent in the fourth quarter from the same period a year earlier.

 
A decline in private spending contributed to the quarterly fall.

BY JIN MIN-JI [jin.minji@joongang.co.kr]